Savoi duped by ANC - court papers

The Mercury reports that although Savoi's auditors had reported the payment to the Independent Regulatory Board of Auditors (IRBA) as an 'irregularity', the information was withheld and it was never reported on to the Director of Public Prosecutions. These allegations are contained in court papers in the state's attempt to cancel Savoi's bail on the grounds that he had failed to disclose all his assets. The matter will be argued in the Pietermaritzburg Regional Court today (16 February). The state alleges that Savoi - who faces charges involving alleged corrupt deals with the KZN and Northern Cape governments - failed to disclose his interests in a trust and company registered in the British Virgin Isles. Trevor White is the forensic auditor hired by the state to probe the alleged dirty deals done by Savoi's Intaka group of companies with politicians and officials in the two provinces. He says in his latest affidavit that Savoi - with the help of auditors - set up 'an international structure' of assets to hide them for tax purposes. The alleged effect was that he did not disclose them to curator Hein Hattingh, who has been tasked to take control of all Savoi's goods pending the outcome of the case against him. Full report in The Mercury (subscription needed)

Savoi was the 'controlling mind' of the Saga and Swanton trusts, and, with the help of his auditors, he had set up the foreign entities to hold assets which he allegedly hid from authorities. Although he claimed to have resigned from the trusts, Savoi allegedly instructed various banks to make payments on behalf of Swanton, including payments for family holidays. The Mercury reports this is according to papers filed in the Pietermaritzburg Regional Court by PwC forensic investigator Trevor White, who is assisting the state's application to have Savoi's R200 000 bail rescinded. Central to the state's case is the claim that - in contravention of his bail conditions - Savoi, through his company Intaka, had transferred R57m to Swanton Enterprises in the British Virgin Isles. Full report in The Mercury (subscription needed)